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Mar 15, 2013 6:30pm PDT
interview for "nbr" this morning is the structural flaws he sees in in the dodd/frank reform laws. i begin my conversation with the man who coined the phrase "irrational exuberance" in 1996, by asking whether we're anywhere close to that giddy spirit right now. >> nowhere close. the characteristics of what has been going on recently are actually more related to the removal of various types of what we call major areas of uncertainty, and the so-called tail risk, meaning the risks that are very unlikely to happen. but if they do, they have a very large impact. europe has been hanging over the american markets now for quite a while. and the removal of that risk, at least temporarily, i think it is only temporary, has enabled the underlying forces of the market to begin to come into vision. and what those forces are, are the deep-seated exceptional discounting that is going on of stocks to a point where so-called equity premiums are virtually the highest level in history. that means that it is very difficult to get the stock market to go down significantly from here. >> so you think, the
Mar 18, 2013 6:30pm PDT
hours. >> moving now from wall street to washington. this week, law makers are working toward a measure that keeps the government up past next wednesday that's when current funding runs out. but the real budget battle over long-term spending cuts continues. >> republicans and democrats in washington are still fighting over taxes and spending but they've agreed to keep the fight under control. house already passed a bill to keep the government running past the end of this month. now the senate is preparing to do the same thing and there, the two parties aren't far apart on the details. >> we've con ens didded the number of amendments being talked about seriously. i commend them and their staff through all of their efforts. >> i spoke with them this morning. they've yet to reach an agreement. >> but the gap remains huge for a long-term plan for bringing government spending and revenue inline. >> they'll reduce the entitlement programs but only if republicans agree to tax hikes and jepd speaker john boehner said the house's answer to that is no. >> the president got his tax heights on janu
Search Results 0 to 7 of about 8 (some duplicates have been removed)